Shareholders' Equity

3 Months Ended

May 26, 2012

Shareholders' Equity

Shareholders' Equity

8) Shareholders’ Equity

Between December 2004 and December 2010, the Company’s Board of Directors authorized, through several share repurchase programs, the repurchase of $4.950 billion of its shares of common stock. The Company has authorization to make repurchases from time to time in the open market or through other parameters approved by the Board of Directors pursuant to existing rules and regulations. The Company also purchases shares of its common stock to cover employee related taxes withheld on vested restricted stock awards. In the first three months of fiscal 2012, the Company repurchased approximately 4.6 million shares of its common stock for a total cost of approximately $306.3 million, bringing the aggregate total of common stock repurchased to approximately 99.7 million shares for a total cost of approximately $4.3 billion since the initial authorization in December 2004. The Company has approximately $613 million remaining of authorized share repurchases as of May 26, 2012.